U.S. Cash Grains-Corn, soy basis bids steady; wet weather stalls planting

April 28 (Reuters) - Spot basis bids for corn were mostly
steady at processors and elevators around the U.S. Midwest early
on Monday as farmers inquired about pricing, dealers said.
    * Dealers noted several farmers were asking about corn
prices, and some sold light amounts of crops in the Western Corn
Belt as prices hovered just above $5 per bushel, an Iowa dealer
said. 
    * Corn bids rose slightly at river terminals. Bids were up 1
cent per bushel at both an Illinois River terminal and a
Mississippi River terminal. 
    * Wet and rainy conditions around the U.S. Midwest kept
	
farmers out of the fields again, delaying planting progress. * The U.S. Department of Agriculture on Monday afternoon will release its weekly crop progress, which is expected to show planting progress behind the average pace. * Soybean bids held mostly steady as farmers waited for higher prices to sell what little old-crop supplies remained in storage bins, dealers said. Basis values are quoted against CBOT futures in cts/bu: CORN SOYBEANS CINCINNATI OH -6 + K UNC +25 + K UP 5 BURNS HARBOR IN -16 + K UNC +10 + K UNC DECATUR IN -25 + K UNC DES MOINES IA UNQ UNC LINCOLN NE -17 + K UNC PROCESSORS CORN SOYBEA NS DECATUR IL +12 + K UNC +30 + K UNC DECATUR IN +50 + K UNC MORRISTOWN IN +45 + K UNC LAFAYETTE IN +40 + K UNC CEDAR RAPIDS IA +6 + K UNC +0 + K UNC COUNCIL BLUFFS IA +0 + K UNC LINCOLN NE -5 + K UNC BLAIR NE -5 + K UNC RIVER TERMINALS CORN SOYBEA NS TOLEDO OH -17 + K UNC +22 + K UNC SENECA IL +3 + K UP 1 +2 + K UNC SAVANNA IL -3 + K UP 1 -8 + K UNC DAVENPORT IA +0 + K UNC -9 + K UNC ETHANOL PLANTS LINDEN IN -5 + K UNC UNION CITY IN -8 + K UP 5 ANNAWAN IL +4 + K UNC COUNCIL BLUFFS IA -14 + N NC
SRW WHEAT TOLEDO OH -8 + N UNC CINCINNATI OH -25 + N UNC DECATUR IN -5 + K UNC BURNS HARBOR IN -25 + N UNC NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, K = May, N = July --------------------------------------------------------------- LINKS: For U.S. forward basis spreadsheets, please double-click on: - CBOT corn report - CBOT soybean report - CBOT wheat report - U.S. grain barge freight values - U.S. Midwest cash grain PM - U.S. CIF Gulf Grain - U.S. FOB Gulf Grain (Reporting by Meredith Davis in Chicago; Editing by Lisa Von Ahn)

About the author

Comments

explore

Stories from our other publications